A pair of companies which specialize in finding joint work-space for start-up businesses in China are joining forces.
The merger of UR Work and Woo Space is expected to make it easier for start-ups and tech firms to make their lives easier as they try to grow their businesses.
CRI's Min Rui has more.
The space sharing firm's founder, Mao Daqing, says he hopes his office spaces can facilitate innovation and entrepreneurship in China.
"The entrepreneurs and young companies today will be the driving force and main strength in society in the future. They are young and are relatively small in size, so they are the first to take up this new trend. Meanwhile, this office sharing mode also meets their demands."
Similar with the US firm We Work, the company provides working space to renters.
However, it has added other services in its renting package, especially for startups.
They can outsource their HR, legal, financial, and even management sectors to the space provider, so to reduce their total spending.
The sharing business model has now expanded in eight cities, such as Beijing, Shanghai, Nanjing and Xi'an, covering 20 thousand square meters and providing 3000 work stations.
Its Beijing headquarters alone incubates more than 100 companies.
Chang Chun, founder of Runnar, a services provider to those who join international running events, says he is very satisfied with the spaces here.
"We are using the legal and financial services provider suggested by the UR Work; it's convenient. Meanwhile, we can talk to other startups and exchange information. Communication is very easy."
Mao Daqing says his company shares the same destiny with space users, and it is their goal to make sure these renters grow their businesses with dignity.
"We've seen companies functioning well, yet they rent a three-bedroom-apartment in residential area. They were ashamed to meet their business partners. But here in Ur Work, we share meeting rooms, and even theatres to meet their needs, so that they grow their business with dignity. "
Randy Wan, an American graduate started his own space renting business last year.
Now, he has partnered with Ur Work.
"I think it's a lot tougher in China. There is a characteristic of everyone trying to do the same thing, when they see a successful model. But it's a lot more exciting in China, the atmosphere not only in Beijing but around China right now, there are so many people who are exciting about entrepreneurship right now. and the pace is so much faster. Not only grow your company, but grow personally. "
According to official data, incubator office space surpassed 65 million square meters by the end of 2014 and over 1500 companies like UR Work had been set up around the country by 2015.
Other firms in the sector include Beijing Makerspace, Kr Space, Tencent Public Space, SOHO 3Q, and DayDayUp.